Housing Finance stocks are trading lower as ICRA’s report stated that housing finance growth is set to slow down to 13-15 percent this fiscal, lower than the average of the past three years, due to the lingering liquidity issues faced by non-banking lenders.
Housing Development Finance Corporation (HDFC) is currently trading at Rs. 2164.95, down by 17.45 points or 0.80% from its previous closing of Rs. 2182.40 on the BSE. The scrip opened at Rs. 2188.00 and has touched a high and low of Rs. 2191.00 and Rs. 2164.95 respectively. So far 18747 shares were traded on the counter.
LIC Housing Finance is currently trading at Rs. 530.80, down by 5.75 points or 1.07% from its previous closing of Rs. 536.55 on the BSE. The scrip opened at Rs. 537.00 and has touched a high and low of Rs. 537.40 and Rs. 528.75 respectively. So far 19877 shares were traded on the counter.
Indiabulls Housing Finance is currently trading at Rs. 670.05, down by 2.05 points or 0.31% from its previous closing of Rs. 672.10 on the BSE.The scrip opened at Rs. 672.10 and has touched a high and low of Rs. 683.65 and Rs. 665.25 respectively. So far 492904 shares were traded on the counter.
The ICRA’s report said that there can also be an adverse impact on the outstanding housing credit, which stood at Rs 19.1 lakh crore as of March 2019. It can be noted that the government is betting on housing sector as one of the major vehicles to push the sagging economic growth.
